Apple in talks with Florence and the Machine for exclusive music streaming rights

Apple has contacted British music band Florence and the Machine and other musicians to get some of their work streamed exclusively on its Beats unit.

Bloomberg, citing people familiar with the matter, reported that Apple is in talks with Florence and the Machine for limited streaming rights to a track from their album to be released in June.

The company also approached Taylor Swift and others about partnerships, according to the report. Apple thinks owning exclusive rights will force people to pay, as a large number of music lovers dislike paid subscriptions.

The move comes as Apple is set to re-launch Beats Music in the coming months, possibly with a new name. There will be a $9.99 (£6.80, €9.40)-a-month subscription for individuals and a family plan for $14.99, the sources told Bloomberg.

In May 2014, Apple bought audio equipment and music streaming company Beats for about $3bn, in order to cash in on the fast-growing music streaming industry.

Tidal, a Beats rival owned by rapper Jay Z and 16 other musicians, is using a tactic similar to Apple, as they look to compete with services like Spotify and YouTube. Tidal has exclusive streaming rights for the work from two of its owners, Beyonce and Rihanna.

Spotify and YouTube are giants in the streaming industry, offering free service with ads and ad-free premium streaming.

Streaming revenue surpassed CD sales in the US in 2015, and music streaming is likely to surpass downloads in 2016, according to MusicWatch.

Last year, revenue from streaming subscriptions, Web radio and music-platform ads grew 29% to $1.88bn, according to the Recording Industry Association of America. Subscription streaming brought in $799m.